The retail sector in Beacon Technology Market is accounted for 67% market share in 2016 and is estimated to hold 55% market share by 2024 due to the wide use of beacon technology by retail enterprises for effective proximity marketing activities. The technology enables the retailers to communicate with real-time and customized messages to the smartphone users. It is observed that beacons have increased customer revisits and impulse purchases in the retail sector, thereby raising its market revenue.
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Ever since its inception in the mainstream tech cosmos, Beacon Technology Market has been gaining widespread recognition, on account of the fact that beacons possess the exceptional ability to promptly send radio frequency signals to transmit information by notifying Bluetooth devices about their presence. Supported by high-grade technologies such as Bluetooth, Wi-Fi, digital signage, wireless charging, and the like, beacons have emerged as the go-to mechanism for most of the industrial verticals, by enabling location-based messaging functions for detecting mobile devices.
On the grounds of its far-flung acclaim, numerous tech giants have been on their element in recent years, attempting to come up with a slew of innovative beacons that can be liberally deployed across the retail, tourism, financial, medical, hospitality, and real estate sectors. Bearing testimony to the aforementioned fact is Bluvision’s latest product release in beacon technology market.
North America is expected to dominate the market by 2024 due to the growing use of beacon technology mainly in the retail sector. The U.S. retail giants, such as Walmart and Target, have implemented beacons in several retail stores for increasing promotions, customized deals, offer coupons, upgraded maps, and product information using mobile apps. The conventional retailers in the region are utilizing technology to compete with e-commerce retailers and offer a good shopping experience to the customers.
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Furthermore, North America beacon technology market growth is attributed to the high penetration rate of mobile devices in the region. With a rising focus on improving the communication infrastructure and fostering retail sector, the Asia Pacific market is estimated to grow gradually during the timeline. The rising awareness about the beacon technology in the economies including Australia, Japan, and India is fostering the market demand in the region.
Speaking of the competitive landscape, beacon technology industry is undergoing an inflection point, where the business space is transiting from a consolidated structure to a rather fragmented or shared model. Some of the strong contenders other than Apple and Google, that are readily investing in beacon technology market include Radius Networks, Kontakt.io, Estimote, Blue Sense Networks, Gimbal, BlueCats, Glimworm Beacons, and Beaconinside.
Some Points From Table Of Content: –
Chapter 6. Beacon Technology Market, By Deployment Model
6.1. Beacon technology industry share by deployment model, 2016 & 2024
6.2.1. Market estimates & forecast, by region, 2015-2024
6.3.1. Market estimates & forecast, by region, 2015-2024
Chapter 7. Beacon Technology Market, By Application
7.1. Beacon technology industry share by application, 2016 & 2024
7.2.1. Market estimates & forecast, by region, 2015-2024
7.3. Travel, tourim and hospitality
7.3.1. Market estimates & forecast, by region, 2015-2024
7.4.1. Market estimates & forecast, by region, 2015-2024
7.5. Financial institutions
7.5.1. Market estimates & forecast, by region, 2015-2024
7.6.1. Market estimates & forecast, by region, 2015-2024
7.7.1. Market estimates & forecast, by region, 2015-2024
7.8.1. Market estimates & forecast, by region, 2015-2024
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